RM2 International SA Results of EGM and Trading Update (9058K)
April 13 2018 - 7:33AM
UK Regulatory
TIDMRM2
RNS Number : 9058K
RM2 International SA
13 April 2018
13 April 2018
RM2 International S.A.
Result of EGM, Trading Update
and Total Voting Rights
Results of EGM
RM2 International S.A. ("RM2" or the "Company"), the sustainable
smart pallet innovator, is pleased to announce that all of the
resolutions put to Shareholders concerning the Placing, the
Conversion and the Open Offer (as announced on 29 March 2018) at
the Company's Extraordinary General Meeting of Shareholders held
today were duly passed.
Accordingly, the Company has now completed the issuance of
1,279,049,295 First Tranche Placing Shares at the Placing Price,
raising gross proceeds of US$18,162,500, and the issuance of
3,156,907,940 Conversion Shares.
As noted in the Company's 29 March 2018 announcement, the Board
intends to launch shortly an open offer to all Shareholders at the
Placing Price of up to the pound sterling equivalent of EUR5.0
million. Further information on the Open Offer will be made
available in due course.
Trading Update
The Company is pleased to also announce it has entered into a
Phase 1 agreement for an initial deployment of RM2 ELIoT pallets
through June 30, 2018 with a Fortune 500 company in North America
following a year-long trial with this blue-chip customer's supplier
network.
In addition, the Company has also completed a major trial with a
North American company and discussions on a large-scale
implementation are expected to commence. The Company has also
expanded ongoing trials with other major US-based customers.
Total Voting Rights
Application has been made for the First Tranche Placing Shares
and the Conversion Shares, accounting for, in aggregate,
4,435,957,235 new Ordinary Shares, to be admitted to trading on
AIM, which is expected to become effective on or around 19 April
2018. Following the issue of the First Tranche Placing Shares and
the Conversion Shares, the Company's issued share capital is
comprised of 4,843,019,891 Ordinary Shares, of which 2,916,334
Ordinary Shares are held by the Company as non-voting treasury
stock ("Treasury Shares").
The total number of voting rights in the Company is calculated
as the number of outstanding Ordinary Shares, less the Treasury
Shares, less the Ordinary Shares not able to be voted on due to
restrictions applicable to certain holders as specified in the
Company's Articles of Association, which results in a total voting
rights figure of 3,237,160,379. Shareholders may use this figure of
3,237,160,379 as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
change their interest in, the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
Unless otherwise defined, capitalised terms in this announcement
are as defined in the Company's announcement, and the circular
posted to Shareholders, both dated 29 March 2018.
For further information:
+44 (0)20 7638
RM2 International S.A. 9571
Kevin Mazula, Chief Executive
Officer
Jean-Francois Blouvac, Chief
Financial Officer
Strand Hanson Limited (Nominated +44 (0)20 7409
& Financial Adviser and Broker) 3494
James Spinney
Ritchie Balmer
James Bellman
Citigate Dewe Rogerson (Financial +44 (0)20 7638
PR) 9571
Simon Rigby
Ellen Wilton
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
Notes to Editors
RM2 International S.A. specialises in pallet development,
manufacture, supply and management to establish a leading presence
in global pallet supply and improve the supply chain of
manufacturing and distribution businesses through the effective and
efficient use and management of composite pallets. It is quoted on
the AIM market of the London Stock Exchange under the symbol RM2.L.
For further information, please visit www.rm2.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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